Beijing had required the top steel mills to reach the 60 percent target by the end of 2015 in its 12th five-year plan, Tang said. The largest 10 mills controlled 48.6 percent of total capacity at the end of 2010.

"Increasing concentration is one of the important conditions to ensure the sector's healthy development, and the state has tried to drive consolidation," Tang said. "For a variety of reasons it has struggled to meet the targets."

Source : thefiscaltimes.com